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Apple posts Q3 earnings: Revenue hits $53.8 billion

Updated Jul 30th, 2019 4:42PM EDT
Apple Earnings 2019
Image: Eric Risberg/AP/Shutterstock

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As far as Apple’s earnings are concerned, the June quarter isn’t necessarily exciting in and of itself. After all, the quarter doesn’t encapsulate the always-busy holiday shopping season or the back-to-school rush where students shell out cash for new iPads and Macs. Still, as one of the more valuable companies on the planet, the vibrancy of Apple’s business over the past 3 months can often telegraph whether Apple seems to be gaining steam or losing traction in the market place.

All that said, Apple today released its earnings report for the recent quarter and posted revenue of $53.8 billion and EPS of $2.18. In contrast, Apple during the same quarter a year-ago posted revenue of $53.2 billion and EPS of $2.34. Analysts on Wall Street, meanwhile, were anticipating revenue to fall in the $53 billion range and EPS of about $2.10

Apple, of course, no longer releases unit sales for any of its consumer products, which is to say that cumulative iPhone sales for the quarter are anybody’s guess. That being the case, one metric worth paying attention to is revenue from Apple’s burgeoning services, an umbrella category which includes the App Store, iTunes, Apple Music, Apple News+, and more. During the June 2018 quarter, Apple’s services generated $9.5 billion in revenue. During the June 2019 quarter, services revenue jumped to $11.46 billion.

As far as revenue from other product lines, iPhone revenue hit $25.99 billion, while iPad and Mac revenue hit $5.02 and $5.82 billion respectively. Apple’s Wearables, Home & Accessories division, meanwhile, generated $5.53 billion in revenue for the quarter.

“This was our biggest June quarter ever,” Tim Cook said in a press release, “driven by all-time record revenue from Services, accelerating growth from Wearables, strong performance from iPad and Mac and significant improvement in iPhone trends.

“These results are promising across all our geographic segments, and we’re confident about what’s ahead,” Cook added. “The balance of calendar 2019 will be an exciting period, with major launches on all of our platforms, new services and several new products.”

Shares of Apple are trading up about 6 points in after-hours trading.

Yoni Heisler Contributing Writer

Yoni Heisler has been writing about Apple and the tech industry at large with over 15 years of experience. A life long expert Mac user and Apple expert, his writing has appeared in Edible Apple, Network World, MacLife, Macworld UK, and TUAW.

When not analyzing the latest happenings with Apple, Yoni enjoys catching Improv shows in Chicago, playing soccer, and cultivating new TV show addictions.